KUALA LUMPUR: The higher overnight close on Wall Street could provide the boost for key regional markets on Wednesday, Nov 3, where key US indices advanced between 0.58% and 1.14%.
US stocks closed higher on Tuesday on the expectation the midterm election and a Federal Reserve decision would create a more business-friendly environment, though many traders forecast a selloff in the days ahead.
The Dow Jones Industrial Average was up 64.10 points, or 0.58%, at 11,188.72. The Standard & Poor's 500 Index was up 9.19 points, or 0.78%, at 1,193.57. The Nasdaq Composite Index was up 28.68 points, or 1.14%, at 2,533.52.
At Bursa Malaysia, stocks in focus could include China Ouhua Winery Holdings Ltd, MULPHA INTERNATIONAL BHD [], UNISEM (M) BHD [] and Perusahaan Sadur Timah Malaysia Bnd (Perstima).
China Ouhua is the first non-shoe manufacturer to list on Bursa. With offer price at 60 sen per share, it will trade at forward price-to-earnings of 6.1 times. It covers the entire value chain in the wine industry from the production to the sales and distribution of wine products to 13 key master distributors in China's coastline provinces in China.
The Edge FinancialDaily reported on Wednesday that Mulpha International's associate company FKP Property Group is touted as a possible takeover target once again. And this time round, the acquiree could be Stockland, a substantial shareholder of FKP.
Unisem (M) Bhd saw its earnings double to RM51.53 million in the third quarter ended Sept 30, 2010 (3Q10) from RM25.83 million a year ago but cautioned about a moderate decline in 4Q due to inventory adjustment in the industry.
Revenue climbed 30.7% to RM370.69 million from RM283.52 million. Earnings per share were 7.64 sen versus 4.21 sen. It declared a dividend of 3.0 sen per share.
For the nine months ended Sept 30, 2010 revenue of RM1.059 billion and net profit of RM141.283 million, represented growth of 47.3% and 446% over the previous corresponding period.
Perusahaan Sadur Timah Malaysia Bnd (Perstima) declared an interim dividend of 16 sen per share for the second quarter ended Sept 30. It posted net profit of RM21.15 million versus RM20.39 million a year ago.
UZMA BHD []'s subsidiary has secured a RM15 million contract from an oil and gas company for the extension of a low pressure system (LPS) service.
HPI RESOURCES BHD [] has proposed to place out 10% of the paid-up share capital of 53.229 million shares of RM1 each. The placement will involve 5.32 million shares at an indicative price of RM1.88.
The corporate exercise will raise RM10 million of which RM9.78 million would be used as general working capital expenses.
US stocks closed higher on Tuesday on the expectation the midterm election and a Federal Reserve decision would create a more business-friendly environment, though many traders forecast a selloff in the days ahead.
The Dow Jones Industrial Average was up 64.10 points, or 0.58%, at 11,188.72. The Standard & Poor's 500 Index was up 9.19 points, or 0.78%, at 1,193.57. The Nasdaq Composite Index was up 28.68 points, or 1.14%, at 2,533.52.
At Bursa Malaysia, stocks in focus could include China Ouhua Winery Holdings Ltd, MULPHA INTERNATIONAL BHD [], UNISEM (M) BHD [] and Perusahaan Sadur Timah Malaysia Bnd (Perstima).
China Ouhua is the first non-shoe manufacturer to list on Bursa. With offer price at 60 sen per share, it will trade at forward price-to-earnings of 6.1 times. It covers the entire value chain in the wine industry from the production to the sales and distribution of wine products to 13 key master distributors in China's coastline provinces in China.
The Edge FinancialDaily reported on Wednesday that Mulpha International's associate company FKP Property Group is touted as a possible takeover target once again. And this time round, the acquiree could be Stockland, a substantial shareholder of FKP.
Unisem (M) Bhd saw its earnings double to RM51.53 million in the third quarter ended Sept 30, 2010 (3Q10) from RM25.83 million a year ago but cautioned about a moderate decline in 4Q due to inventory adjustment in the industry.
Revenue climbed 30.7% to RM370.69 million from RM283.52 million. Earnings per share were 7.64 sen versus 4.21 sen. It declared a dividend of 3.0 sen per share.
For the nine months ended Sept 30, 2010 revenue of RM1.059 billion and net profit of RM141.283 million, represented growth of 47.3% and 446% over the previous corresponding period.
Perusahaan Sadur Timah Malaysia Bnd (Perstima) declared an interim dividend of 16 sen per share for the second quarter ended Sept 30. It posted net profit of RM21.15 million versus RM20.39 million a year ago.
UZMA BHD []'s subsidiary has secured a RM15 million contract from an oil and gas company for the extension of a low pressure system (LPS) service.
HPI RESOURCES BHD [] has proposed to place out 10% of the paid-up share capital of 53.229 million shares of RM1 each. The placement will involve 5.32 million shares at an indicative price of RM1.88.
The corporate exercise will raise RM10 million of which RM9.78 million would be used as general working capital expenses.
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